Global Music Market (Recorded Music, Streaming & Publishing): Insights & Forecast (2021-2025)
The major regional and country markets (the U.S., Japan, the U.K., Germany, China and Rest of the World) have been analyzed.
By: Koncept Analytics
According to type, the global music market can be bifurcated into recorded music, streaming, music publishing and others such as live music and broadcast. Further, the recorded music market can be split into streaming (subscription & ad supported), physical, download & other digital and others, on the basis of format. Whereas, depending on the category, the global music streaming market can be categorized into subscription and ad-supported. The global music streaming market, on the other hand, can be divided into digital, performance, synchronization and mechanical, in terms of category.
The fastest growing recorded music market is the U.S. on account of rising smartphone penetration, increasing number of paid subscriptions to on-demand streaming services, growing music consumption on account of changing tastes and preferences of consumers and growing investment of record companies for digitization. However, the market experienced a slow growth in 2020, due to the COVID-19 pandemic, which resulted in limiting studio recording and shutting down live music sector and other operations of the recorded music market across the region.
Scope of the report:
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